The present invention relates to a self-service wagering system and, more particularly, to a system wherein cash handling is minimized and wherein each automated anonymous transaction provides for ticket cashing, bet processing and credit balance updating.
Race tracks and other locations where parimutuel wagering takes place commonly employ data processing equipment which automatically calculates and updates the odds for races based on the number and value of the wagers placed on each horse in the race. The betting information is fed to the data processor as the money is collected and the receipt for each bet is issued.
The bettor, before each race, must be physically present at a central location at the track (or, off-track betting office) where the betting windows are located. The bettor selects the window which corresponds to the value of the bet he wishes to place. Behind the window is an agent who accepts the money and presses the appropriate buttons on a receipt (ticket) issuing machine, such that a receipt is issued with the outstanding wager information concerning the horse, the type of bet ("Win", "Place" or "Show") and the value of the bet thereon. This information is simultaneously transmitted to the data processor which uses this information to continuously update the odds. The bettor retains the receipt and, if the bet has been won, goes to a pay-out window where he submits the receipt to an agent who pays the bettor his winnings.
This system has a number of drawbacks. A separate money transaction is required when each wager is placed. A separate money transaction is required for each pay-out. Thus, a large number of agents are required, each of which handles a great deal of money, usually in small bills. For security reasons, it is necessary that these agents be located at a central location. Because of the great number of individual manual transactions, the potential for human error is great. Each transaction is time consuming and a great deal of time is wasted waiting in lines. Since all of the wagering must take place at a central location, the bettors are required to come from all parts of the track to place their bets. This is inconvenient to the bettors. Moreover, there is little confidentiality for the bettor, as any observer situated near the windows can see which bettors are betting what amounts and which bettors are being paid, by merely observing the lines in front of the windows.
Systems have been proposed to overcome some of these problems. For instance, in U.S. Pat. No. 3,124,674 issued Mar. 10, 1964 and entitled "Data Collection And Distribution System", upon entering the track, the bettor purchases a number of credit tickets, each of which represents a particular dollar amount ($2, $5, $10, etc.). Thus, theoretically, there need be only a single money deposit, if the amount of the deposit is sufficient to cover all bets on all of the races. To place a bet, the customer inserts a credit ticket of the desired denomination into a terminal and enters information on a keyboard to indicate the desired bet (the number of the race, the horse, and the type of bet). The terminal records the information on the ticket and the ticket is returned to the bettor as a receipt. If the bettor is a winner, the winnings are paid in the customary fashion, by bringing the ticket to a cashier. No current balance is maintained because each transaction is paid for separately, although at one time.
This system, however, to be more efficient than the conventional method, requires that the bettor decide, upon entering the track, the denomination of each of the bets he will place during the day. Otherwise, a separate money purchase would still be required for each bet. This decision is often impossible in advance because it may depend in large part upon whether the bettor has won or not on previous bets during the day and other factors. It therefore, in the practical situation, does not provide for a single cash transaction to place all bets and does not provide the bettor with an updated account of his balance. This system also requires that a plurality of tickets be handled and held by the bettor.
U.S. Pat. No. 3,327,292 entitled "Race Track Betting Data Handling System" discloses a betting terminal which is very much like a vending machine wherein the bettor inserts the money and enters the betting information on a keyboard. The information is recorded and a receipt issued. In order to collect on the bet, the receipt is brought to a cashier. Thus, in this patent, each transaction (bet and/or payout) is separate and requires money to be handled and no current balance is maintained. This is merely an attempt to substitute an automatic vending type machine for an agent. It therefore has all of the inheritant drawbacks of the use of a vending machine, particularly the difficulties relating to recognizing and accepting currency.
In U.S. Pat. No. 4,108,361 entitled "Universal Mark Sense Betting Terminal System And Method", a blank slip is filled out by the bettor and inserted into a machine. An agent at the machine collects the appropriate amount of money. The agent notifies the terminal that he has been paid, the bet is recorded and a receipt is printed. Thus, the presence of an agent to handle the money for each transaction is required as each bet is paid for separately and each winner is paid manually.
Thus, in the systems proposed by U.S. Pat. Nos. 3,327,292 and 4,108,361, each transaction must be paid for and paid out separately, thereby requiring a great deal of money handling, time, inconvenience and, in the latter instance, the presence of a large number of agents. With respect to the former patent, where the money is taken in vending machine style, coins or tokens must be used to place each bet, which is extremely inconvenient. The system of U.S. Pat. No. 3,124,674 alleviates this problem but creates the additional problem that the bettor must decide in advance what denomination tickets and, thus, how much he will bet for each race, and deposit a sum of money to cover bets on several races instead of only one race, if the system is to function properly. If the bettor has to buy a ticket before each race, then the efficiency of the system is defeated.
A number of systems for automatic banking are known which issue receipts after each transaction and maintain a current balance for each account. In such systems, however, money is either paid in or paid out for each transaction and the receipt thereof cannot be used for subsequent transactions. There have also been proposed a number of systems for credit card transactions where the customer's current balance is kept on a reusable card which is returned to the customer after each purchase with the updated balance information.
However, none of the previously known automatic banking or credit card transaction systems have the features required for use in parimutuel betting. None of these systems provide a facility for checking whether a wager can be accepted, permit payment for outstanding wagers and acceptance of proposed wagers in a single transaction, or provide a receipt, with a record of credit balance and outstanding transactions to be completed, which can be reused at a later time to complete the transaction, that is, to provide payment. None of these systems provide a form on the reusable ticket to enter information for a further (new) transaction which is automatically recorded when the completed transaction is paid.
It is therefore a primary object of the present invention to provide a self-service wagering system wherein a single cash deposit provides for multiple race/multiple day betting.
It is another object of the present invention to provide a self-service wagering system wherein a single transaction provides ticket cashing, bet processing and credit balance updating.
It is another object of the present invention to provide a self-service wagering system wherein the bettor need not decide in advance the denominations of the bets he will make when the initial cash deposit is made.
It is another object of the present invention to provide a self-service wagering system wherein bets can be conveniently and quickly placed at a plurality of locations remote from the central data processing equipment.
It is another object of the present invention to provide a self-service wagering system wherein deposit amounts, credit information and information concerning outstanding wagers and payouts are maintained anonymously.
It is another object of the present invention to provide a self-service wagering system wherein the bettor is provided, after each transaction, with updated credit balance information.
It is another object of the present invention to provide a self-service wagering system wherein the amounts wagered and won by a particular bettor are confidential.
It is another object of the present invention to provide a self-service wagering system which can be utilized both for on-track and off-track betting operations and which operates simply, efficiently and errorlessly.
In accordance with the present invention, the self-servicing wagering system includes a memory containing the credit balance and information relating to an outstanding wager, for each of a plurality of anonymous ticket transaction records. Information relating to the results of a completed race is also stored in the system. A single ticket bearing an acknowledgment of the stored credit balance, an acknowledgment of the outstanding wagers, a machine-readable ticket transaction record identification code and a form upon which machine-readable information relating to a proposed wager may be entered by the ticket holder, is used for each transaction.
The ticket is inserted into a terminal and the identification code and entered information relating to the proposed wager, if present, is read. The identification code is used to access the memory location corresponding to the ticket transaction record, to obtain the stored credit balance and outstanding wager information for that ticket transaction. The outstanding wager information is used to access the memory location corresponding to the race to which the outstanding wager pertains. The outstanding wager information and the results of the race are compared. If the outstanding wager information coincides with the race results, the value of the outstanding wager is calculated. The calculated value is then added to the credit balance to form an altered balance.
The proposed wager information is compared with possible valid wagers for the race to which it pertains. If this information coincides, the proposed wager is accepted, the value thereof is subtracted from the altered balance to form an updated credit balance and a new identification code corresponding to this transaction is assigned. Information concerning the accepted wager is stored, as is the credit balance information, in the memory location corresponding to the newly assigned identification code.
If the proposed wager is accepted, the ticket previously inserted into the terminal is retained and a new ticket is issued. The new ticket has printed thereon the new ticket transaction record identification code, an acknowledgment of the updated credit balance and an acknowledgment of the accepted wager. In addition, the new ticket bears a form upon which the information relating to the next proposed wager may be entered by the bettor.
The terminal is provided with an entrance port into which the ticket is inserted. After the presence of the ticket is sensed in the entrance port, the ticket is conveyed from the entrance port to a ticket reader. After the ticket is read, it is held in escrow at that location until after the proposed wager has been accepted or rejected.
The identification code is verified as to form. If the form is improper, a rejection signal is generated, an error message displayed and the ticket is returned to the entrance port.
If the proposed wager does not coincide with possible valid wagers, a rejection signal is generated, an error message displayed and the ticket returned to the entrance port. If the proposed wager information coincides with the possible valid wagers, the altered credit balance is tested to determine if same is larger than the value of the proposed wager. If insufficient funds are present to cover the proposed wager, a rejection signal is generated, an error message displayed and the proposed wager rejected. If sufficient funds are present, the proposed wager is accepted and the value of same is deducted from the altered credit balance to form an updated credit balance, which information is stored along with the information concerning the accepted wager.
Upon acceptance of the wager, an acceptance signal is generated which causes a new record ticket transaction identification code to be assigned for the accepted transaction. The ticket being held in escrow is released and conveyed to a storage bin. The acceptance signal also causes a new ticket to be dispensed from a ticket supply and conveyed to a printer which prints thereon the ticket transaction record identification code corresponding to the accepted wager, acknowledgment of the credit balance information, and acknowledgment of the accepted wager. This ticket also contains a form upon which may be entered information concerning a further wager on a subsequent race.
After the race to which the accepted wager pertains has been completed, the bettor marks the form with information concerning a further proposed wager on an upcoming race. He then inserts the ticket into the entrance port of the terminal and the cycle is repeated--paying the winning wager and accepting a new wager. The bettor may repeatedly place wagers in this fashion until his credit balance is depleted or he wishes to be paid out. Only a single transaction is required for each ticket cashing, bet processing and credit balance updating.
The system preferably comprises a central processing unit and a number of remote terminals which are connected through a communication interface. The central processing unit continuously polls each of the terminals in sequence to determine if a transaction is taking place. If it is, the data is received from the remote terminal, processed in the central processing unit and retransmitted back to the terminal. The terminals may be situated at any location, and therefore may be located throughout the track or at conveniently located off-track betting locations.
Pay-in and payout windows may be located at a convenient location such as at the entrance of the track. Upon entering, the bettor pays in an amount equal to the credit balance which he desires. The credit balance is transmitted to the central processing unit which assigns a ticket transaction record identification code, stores the credit information and authorizes a ticket to be printed which contains the ticket transaction record identification code and an acknowledgment of the credit balance. The bettor need not decide in advance the denomination of each of the bets he wishes to place, only the total amount he intends to bet. After the better has placed all of his bets and wishes to paid out, he goes to the payout window with his last ticket. The identification code on the last ticket is used to access the memory to determine the final credit balance and an agent pays the ticket holder accordingly.
In this manner, money handling is greatly reduced as is waiting time. Transactions are quick, easy and errorless. Security and confidentiality are enhanced. The ticket holder always has in his possession a ticket which acts as a receipt for his current balance and any outstanding wagers. The central processing unit also has this information. The same ticket can be used by the bettor to enter a proposed wager and when inserted into the terminal, the central processing unit not only acknowledges and accepts the proposed wager, and alters the credit balance according to any outstanding wagers, but also provides the bettor with a receipt for his transaction with a unique ticket transaction identification code, the current balance information, and a form upon which information pertaining to the next transaction may be entered.
In a second preferred embodiment, storage requirements of the system are reduced by recording the credit balance and outstanding wager information on the ticket in machine-readable form. Thus, this information need no longer be stored in the memory, as it is obtained from the ticket as it is read. The remaining operations of the system remain unchanged, except for the elimination of the necessity of assigning identification codes for each ticket transaction record.
In a third preferred embodiment, transaction processing time is reduced by crediting each transaction record stored in the memory, which has a winning outstanding wager on a particular race, automatically upon completion of the race. This is accomplished by addressing each location in sequence to determine if same contains an outstanding wager pertaining to the race just completed. If so, the stored wager information is compared to the race results and each winning account is automatically credited at that time. This operation, therefore, need not take place during processing of the proposed wager, thus reducing the processing times for accepting proposed wagers.